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Mar 31, 2023
WideOpenWest Q1 2023 Earnings Report
WideOpenWest's financial performance declined in Q1 2023, with a net loss reported despite HSD revenue growth.
Key Takeaways
WideOpenWest (WOW!) reported a decrease in total revenue and a net loss for Q1 2023. While HSD revenue increased, overall financial performance was negatively impacted by a decrease in subscription revenue and an increase in selling, general, and administrative expenses due to patent litigation settlement.
Total revenue decreased by 1% to $172.2 million compared to Q1 2022.
HSD revenue increased by 5% to $105.2 million compared to Q1 2022.
Net loss was $38.0 million for the quarter ended March 31, 2023.
Adjusted EBITDA decreased by 2% to $65.2 million compared to Q1 2022.
Revenue by Segment
Forward Guidance
WOW! provided guidance for Q2 2023 and full year 2023, including revenue and Adjusted EBITDA estimates.
Positive Outlook
- HSD Revenue Q2 2023: $106.0 - $109.0 million
- Total Revenue Q2 2023: $173.0 - $176.0 million
- Adjusted EBITDA Q2 2023: $65.0 - $68.0 million
- HSD Revenue Full Year 2023: $437.0 - $441.0 million
- Total Revenue Full Year 2023: $703.0 - $707.0 million
Challenges Ahead
- HSD net additions Q2 2023: (4,000) - 0
- Adjusted EBITDA Full Year 2023: $286.0 - $290.0 million
- HSD net additions Full Year 2023: 6,000 - 10,000
- Unspecified risks associated with forward-looking statements.
- Potential impact of market conditions on financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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